WASHINGTON (MNI) – The Treasury Department’s November mid-quarter
refunding of $72.0 billion will raise $48.1 billion new cash, Treasury
announced Wednesday.
For November, the Treasury Department said it will sell $32 billion
3-year notes on Nov. 8, $24 billion in 10-year notes on Nov. 9 and $16
billion in 30-year bonds on Nov. 10. Settlement for these issues is Nov.
15.
On the TIPS issuance, Treasury said it “expects to continue to
gradually increase gross issuance of TIPS in 2012.”
The Treasury said it “believes that it is prudent to hold offering
sizes for notes and bonds stable over the near term.”
“Going forward, Treasury will provide guidance,” it added,
“regarding any changes in the fiscal outlook that might impact the
government’s financing needs.”
Treasury also expects to offer cash management bills during the
quarter.
For the fourth quarter of 2011, Treasury Monday estimated it will
borrow $305 billion, assuming a $60 billion cash balance on December 31.
For the first quarter of 2012, Treasury estimated it will borrow
$541 billion, with a $60 billion cash balance at the end of January.
The first quarter 2012 refunding announcement will be Wednesday,
February 1, 2012.
Below is a summary of the auctions announced Wednesday by the
Treasury:
(billions of dollars) Auction Settlement
Issue Total New Cash Date Date
————- ——– ——– ——– ———-
3-yr notes 32.000 — Nov 8 Nov 15
10-yr notes 24.000 — Nov 9 Nov 15
30-yr bonds 16.000 $48.1 Nov 10 Nov 15
** Market News International Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MFU$$$,MCU$$$]
